Full text : Political economy

PROBLEMS  OF  DISTRIBUTION  251

like  the  atmosphere  of  reason  in  which  it  is
enshrouded),  made  up  of  thought  with  just
enough  of  fact  to  give  it  substance,  and,  in
between,  layer  upon  layer  of  more  or  less
highly  generalised  experience.  In  this  work
we  have  exercised  our  intellects  rather  than
our  senses,  in  the  main,  and  kept  our  attention ­
  focussed  on  the  apex  ;  but  in  the  present
chapter  portions  of  some  intermediate  layers
have  been  worked  through,  partly  for  utilitarian ­
  reasons,  but  partly  also  to  afford  an
object  lesson  of  the  manner  in  which  abstract
theory  may  be  an  aid,  though  not  the  sole
agency,  in  the  solution  of  practical  problems.
Had  the  limitations  of  these  volumes  permitted, ­
  the  same  thing  might  have  been  done
as  regards  other  problems,  and  it  might  have
been  demonstrated  that  in  the  settlement  of
business  policy,  in  matters  of  taxation  and
the  function  of  the  State  with  reference  to
industry,  commerce  and  social  conditions,
economic  theory  furnishes,  if  not  complete
solutions,  at  least  suggestions  and  indications
without  which  we  could  never  make  a  start.
At  the  same  time,  however,  for  any  handling
of  these  problems  worth  having,  a  study  of
quite  another  order  is  called  for,  namely  the
study  of  ends  or  ideals.
To  remove  all  flaws  from  social  conditions
            
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